Tyre maker MRF on Tuesday said its consolidated net profit declined by 32 per cent to Rs 130 crore for the second quarter ended September 30, on account of higher expenses.
The company had posted a net profit of Rs 190 crore in the July-September quarter of the previous fiscal.
Revenue from operations, however, rose to Rs 5,826 crore for the second quarter, as compared to Rs 4,908 crore in the year-ago period, MRF Ltd said in a regulatory filing.
The total expenses of the company rose to Rs 5,730 crore during the September quarter, up 21 per cent from Rs 4,741 crore in the corresponding quarter of last fiscal.
The company’s board has declared an interim dividend of Rs 3 per share (30 per cent) for the financial year ending March 31, 2023, it added.
